Guideline Value for Kakkan Colony

Kakkan Colony guideline value

The current guideline value of Kakkan Colony, located in Nungambakkam village, is Rs 5,500 per sq.ft as per the 2024 revision, which is effective from 1 July 2024. This area falls under the Chennai Central Joint II SRO and is classified as Residential Class IV Type - II.

How the guideline value of Kakkan Colony has changed

The guideline value for Kakkan Colony has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 317%. However, the value then dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The following revision in 2023 brought the value up to Rs 5,000 per sq.ft, and the latest revision in 2024 has set it at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

In summary, from 2007 to 2024, the overall increase in the guideline value is 358%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. Kakkan Colony's current guideline value is below this median.

• Kakkan Colony 1st Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 2nd Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 3rd Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 4th Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 5th Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 6th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kakkan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for these fees Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kakkan Colony?

Kakkan Colony is covered by the Chennai Central Joint II Sub Registrar Office located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Nungambakkam

The guideline value plays a crucial role in the registration process of property transactions in Nungambakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in official records.

It is essential for buyers and sellers to be aware of the current guideline value as it affects the overall cost of the transaction. Understanding these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Kakkan Colony?

The current guideline value of Kakkan Colony is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 1,200 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Nungambakkam?

The median guideline value in Nungambakkam is Rs 8,800 per sq.ft, while Kakkan Colony's value is below this median.

What are the stamp duty and registration fees for property in Kakkan Colony?

For a 1,000 sq.ft plot, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where can I find the Sub Registrar Office for Kakkan Colony?

The Sub Registrar Office covering Kakkan Colony is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.